Planet Fitness, Inc. (NYSE:PLNT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Planet Fitness, Inc. (NYSE:PLNT) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $85.93.

Several research firms have recently issued reports on PLNT. BNP Paribas raised Planet Fitness from a “neutral” rating to an “outperform” rating and set a $97.00 price target for the company in a research note on Thursday, September 5th. Bank of America increased their price target on Planet Fitness from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird reissued an “outperform” rating and issued a $92.00 price target on shares of Planet Fitness in a research note on Monday, August 26th. BMO Capital Markets reissued an “outperform” rating and issued a $87.00 price target (up previously from $80.00) on shares of Planet Fitness in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their target price on Planet Fitness from $78.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th.

Insider Activity

In other news, CAO Brian O’donnell sold 6,424 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $77.39, for a total transaction of $497,153.36. Following the completion of the sale, the chief accounting officer now directly owns 6,778 shares of the company’s stock, valued at $524,549.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 5.94% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Planet Fitness

Hedge funds have recently bought and sold shares of the business. Fidelis Capital Partners LLC purchased a new stake in Planet Fitness in the 1st quarter worth about $27,000. GAMMA Investing LLC raised its stake in shares of Planet Fitness by 478.8% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $28,000 after purchasing an additional 316 shares in the last quarter. LRI Investments LLC raised its stake in shares of Planet Fitness by 61.2% during the 2nd quarter. LRI Investments LLC now owns 403 shares of the company’s stock worth $30,000 after purchasing an additional 153 shares in the last quarter. Quarry LP raised its stake in shares of Planet Fitness by 174.7% during the 2nd quarter. Quarry LP now owns 500 shares of the company’s stock worth $37,000 after purchasing an additional 318 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Planet Fitness by 69.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 489 shares of the company’s stock worth $40,000 after purchasing an additional 201 shares in the last quarter. 95.53% of the stock is owned by hedge funds and other institutional investors.

Planet Fitness Price Performance

Shares of NYSE PLNT opened at $78.50 on Thursday. Planet Fitness has a 1-year low of $53.31 and a 1-year high of $85.08. The business’s fifty day moving average price is $81.32 and its two-hundred day moving average price is $73.69. The firm has a market capitalization of $6.92 billion, a PE ratio of 45.11, a P/E/G ratio of 2.74 and a beta of 1.49.

Planet Fitness (NYSE:PLNT) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.05. Planet Fitness had a negative return on equity of 121.99% and a net margin of 14.16%. The company had revenue of $300.94 million during the quarter, compared to analysts’ expectations of $290.17 million. During the same quarter in the prior year, the business posted $0.65 earnings per share. The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities research analysts expect that Planet Fitness will post 2.43 earnings per share for the current fiscal year.

About Planet Fitness

Planet Fitness, Inc, together with its subsidiaries, franchises and operates fitness centers under the Planet Fitness brand. The company operates through three segments: Franchise, Corporate-Owned Stores, and Equipment. The company is involved in franchising business in the United States, Puerto Rico, Canada, Panama, Mexico, and Australia.